#MileiMemeCoinControversy Milei jailed for Libra cryptocurrency fraud

Argentina’s libertarian president, Javier Milei, has been rocked by a scandal over his promotion of a memecoin whose value soared before crashing, triggering impeachment calls and lawsuits.

Buyers accused the coin’s creators of a possible “rug pull” scheme, where initial cryptocurrency investors lure others to inflate its price before quickly withdrawing their funds.

Political opponents have filed dozens of lawsuits accusing Milei of ethical violations, while the main left-wing opposition bloc, Peronist, said it would begin impeachment proceedings and accused him of “participation in a crypto fraud.”